A vice president at Sun Life was recognized at the Canadian General Counsel Awards for his work on a couple of complex deals
An executive for Sun Life Assurance Co. of Canada has been honored for his work on a couple of complex and high-profile pension risk transfer deals, according to a Financial Post report.
Hugh Kerr, vice president and associate general counsel for Sun Life, received the Purdy Crawford Deal Making Award at this year’s Canadian General Counsel Awards for his work on the complex pension transfer deals.
“They are a tough nut to crack,” Kerr admitted.
Kerr heads up the legal team that works with Sun Life’s benefits, solutions and retirement services group, and was the group’s chief legal adviser for its pension risk transfer business, the Financial Post reported. In 2015, Kerr helped put through a $5 billion longevity insurance agreement for BCE Inc.’s defined benefit pension plan. It was the first longevity deal in North America, and transferred $5 billion of pension risk from the BCE plan to Sun Life, according to the Financial Post.
Another deal involved a $530 million group annuity plan that included two inflation-linked pension plans that each came to Sun Life separately trying to offset their risk.
“It was dynamic,” Kerr told the Financial Post. “We had two sets of negotiations going on at the same time that had to close on the same day.”
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Hugh Kerr, vice president and associate general counsel for Sun Life, received the Purdy Crawford Deal Making Award at this year’s Canadian General Counsel Awards for his work on the complex pension transfer deals.
“They are a tough nut to crack,” Kerr admitted.
Kerr heads up the legal team that works with Sun Life’s benefits, solutions and retirement services group, and was the group’s chief legal adviser for its pension risk transfer business, the Financial Post reported. In 2015, Kerr helped put through a $5 billion longevity insurance agreement for BCE Inc.’s defined benefit pension plan. It was the first longevity deal in North America, and transferred $5 billion of pension risk from the BCE plan to Sun Life, according to the Financial Post.
Another deal involved a $530 million group annuity plan that included two inflation-linked pension plans that each came to Sun Life separately trying to offset their risk.
“It was dynamic,” Kerr told the Financial Post. “We had two sets of negotiations going on at the same time that had to close on the same day.”
RELATED LINKS:
Sun Life donates $10 million to charitable cost
Sun Life at centre of cover storm
